The market for artificial intelligence (AI) platforms software will grow to $153 billion in 2028 with a CAGR of 40.6 percent over the 2023-2028 forecast period, IDC report said.
“Innovations in generative AI is changing how companies think about their products, how they develop and deploy AI applications, and how they leverage technology themselves for reinventing their business models and competitive positioning,” said Ritu Jyoti, group vice president and general manager of IDC’s Artificial Intelligence, Automation, Data and Analytics research.
AI platform software revenue grew 44.4 percent in 2023 to $27.9 billion, according to IDC’s Worldwide Artificial Intelligence Platforms Software Market Shares, 2023.
Microsoft is the leader in the AI platforms software market thanks to its robust and comprehensive offerings, as well as its vast ecosystem of products and services.
Microsoft’s AI solutions are deeply integrated into its popular software and cloud services, providing a seamless experience for both businesses and developers alike.
Palantir, OpenAI, Google, and Amazon Web Services (AWS) are the other leading players in the AI platform software market in 2023. IDC did not reveal the specific market share of Microsoft, Palantir, OpenAI, Google, and AWS in the AI platform software market.
Half of the organizations currently deploying GenAI in production have already selected an AI Platform, while most of the organizations that have already initiated significant investments will do so in the next six months, according to IDC’s Future Enterprise Resiliency and Spending Survey.
AI presents significant risks. Organizations need to identify patterns and anomalies, identify potential risks, said Raghunandan Kuppuswamy, research manager, Artificial Intelligence and Automation at IDC.
IDC expects cloud-based deployments of AI platforms software to grow at a faster rate than on premises deployments with revenue from AI platforms in the public cloud forecast to have a five-year CAGR of 50.9 percent.
Baburajan Kizhakedath
